Federal and State Disclosures

Loan Programs

How does AmeriFund do it?

Our competitors will
actually use our superior pricing as a reason
to avoid using us.They’ll
tell you, “If it’s so good, it can’t be real.”But the fact is, there is a huge
difference in the costs at the same rate
between the various companies vying for your
business.So why are AmeriFund’s
costs so low?

There are actually many
reasons for this.Here are a
few of the more important ones.

Lower
locked-loan fallout ratios.

When a loan is locked and does not close
it costs the lender money.
This is a reality of managing a locked pipeline
in the secondary market. A mortgage originator
that delivers (closes) a higher percentage of
locked transactions receives better overall
pricing on the entire pipeline.

AmeriFund requires an applicant to complete a
quick and easy application procedure and submit
the documentation (income/asset documents) necessary to
determine whether an applicant will qualify before we are
willing to lock on that transaction. We
typically evaluate this information in less
than four hours.The vast
majority of our competitors do not have an
underwriter evaluate an applicant’s
documentation until several days (or possibly
weeks) into the application process. Most don’t
even have the capability. So when our
competitors lock an applicant at or near
the time of application they are doing so
blindly, not knowing whether that loan will
actually be approved and not knowing whether it
will likely close.

AmeriFund also advertises in a manner such
that we approve a much higher percentage of
loans than the average lender.This is not because we have less
stringent guidelines. It is because our typical
borrower is more likely to be approved and
go to closing. As a result of these two
factors, AmeriFund's delivery rate on locked
loans exceeds 95%.The
average mortgage broker’s delivery rate is less
than 70%.As a result,
AmeriFund’ pricing is about half a discount
point or more better than our average competitor.That means, that on a $300,000 loan we
can charge the borrower about $1,500 less than
our competitors and still make the same amount
of profit on that transaction.

AmeriFund has

lower margins.

The simple fact of the matter is that
AmeriFund charges the borrower a little less
than most our competitors on every transaction.The typical bank has to pay the
president (who’s out playing golf), the VP of
the Mortgage Division (whose out playing golf),
the VP of Sales (who’s out playing golf), the
Regional Manager (whose probably out playing golf), the Branch Manager (whose playing
video games in the corner office) and …. Well,
you get the picture.
AmeriFund has none of that dead weight.So instead of cutting the pie into fewer
pieces and eating a bigger piece of the pie, we
merely keep the same piece of pie and give a
slice or two back to you.
It’s that simple.We can
make the same amount of money charging less.
Our competitors simply can’t do that.

No marble
floors in the lobby.

In fact … we don’t really have a lobby.
We’re a small company and we like it that way.
We only have a handful of loan consultants and
processors and they all work from home.No commute time.No
wasted time at the water fountain.We also take 99% of our applications by
phone or via the internet. Our loan consultants
rarely see our applicants face-to-face.As a result our loan consultants close
three times the number of transactions spending
the same amount of time as the typical “loan
officer” at one of our competitors. This all
adds up to capability of charging less on each
transaction, and making the same or more as the
other guys. It’s simple entrepreneurial
mathematics. We benefit from the efficiency.
You benefit too, by receiving lower costs.

One final thought.AmeriFund’s loan consultants provide
clear and concise quotes in writing within
minutes of receiving a request.We’ve been in business for more than 23
years.In that entire time
we’ve never had a single complaint filed with
the Better Business Bureau or any regulating
agency.Check out our
competitors’ that are telling you we won’t
deliver.Most have had
multiple complaints filed with the BBB in just
the last three years.Check
out our rating on the LendingTree.com review
site. It’s a perfect 5 of 5 stars.If we didn’t deliver on our quotes
wouldn’t there be an occasional complaint filed
for improper sales techniques?

The bottom line. AmeriFund
has the lowest rates and costs of any mortgage
originator in the market and
we have the highest customer service marks.